A giant magnetoresistive (GMR) effect element in the related art includes a first ferromagnetic layer serving as a magnetization fixed layer, a second ferromagnetic layer serving as a magnetization free layer, and a nonmagnetic spacer layer that is disposed between the first ferromagnetic layer and the second ferromagnetic layer. That is, a GMR effect element has a structure of ferromagnetic layer/nonmagnetic spacer layer/ferromagnetic layer. The GMR effect element can allow electrons having a spin to pass therethrough in a state in which the magnetization directions of the upper and lower ferromagnetic layers are aligned. A current-perpendicular-to-the plane (CPP) GMR effect element in the related art has a smaller magnetoresistive effect than a tunneling magnetoresistive (TMR) effect element. Accordingly, in a GMR effect element disclosed in Patent Reference 1, a Heusler alloy (Co2(Fe, Mn)Si) is used for the ferromagnetic layers and Ag is used for the nonmagnetic spacer layer, whereby improvement in a magnetoresistive effect is attempted.
Japanese Patent Laid-Open Application No. 2012-190914.